Accounting & Financial Reporting Services
Reliable accounting records are the foundation for tax compliance, financial reporting, audit readiness and informed business decisions.
LGR provides accounting services for Malaysia and Singapore businesses, from bookkeeping and management accounts to period-end closing, financial reporting and coordination with tax and audit requirements.
ACCOUNTING & FINANCIAL REPORTING · MALAYSIA & SINGAPORE
At a glance
Bookkeeping: Recording and organising business transactions
Management accounts: Monthly, quarterly or periodic reporting
Period-end closing: Reconciliations, adjustments and closing support
Financial reporting: Preparation and reporting support
Tax readiness: Accounting records organised for tax compliance
Audit readiness: Schedules and supporting information for audit
Frequency: Monthly, quarterly or annual scope depending on needs
Bookkeeping & Accounting
Recording and classification of business transactions based on the accounting records and supporting documents provided.
The scope may include sales, purchases, expenses, receipts, payments and general-ledger accounting.
Management Accounts
Periodic profit and loss, balance sheet and supporting financial information can be prepared for management review.
Reporting frequency can be structured monthly, quarterly or based on the company's operational requirements.
Period-end work may include reconciliations, journal adjustments, account analysis, closing schedules and financial-statement preparation or support.
The exact scope depends on the reporting framework and requirements applicable to the company.
Financial Reporting & Closing
The appropriate accounting scope depends on the volume and complexity of transactions, the company's internal finance capability and how frequently management needs financial information.
LGR can provide ongoing accounting support or assist with specific reporting and closing requirements.
What accounting support does LGR provide?
OUR ACCOUNTING SERVICES
ACCOUNTING INFORMATION
What information is needed to maintain reliable accounts?
Accurate accounting depends on complete source documents, clear transaction information and timely communication about unusual or significant business activities.
Transaction Records
Bank statements
Sales invoices
Supplier invoices
Receipts and expense records
Payment records
Credit notes and adjustments
Payroll information
Financing and loan documents
Fixed asset purchases
Supporting Information
Previous trial balance
General ledger
Prior financial statements
Tax returns and computations
Bank reconciliations
Accounts receivable schedules
Accounts payable schedules
Inventory information
Related-party transactions
Agreements for significant transactions
Additional information may be required for foreign-currency transactions, investments, leases, financing arrangements, related parties, complex revenue arrangements or other significant accounting matters.
OUR PROCESS
How we manage the accounting process
LGR first understands the company's existing records, transaction flow and reporting requirements before agreeing on the appropriate accounting process and frequency.
02 — Organise & Process
We understand the company's activities, transaction volume, accounting system, reporting frequency and current state of the accounting records.
01 — Understand the Business & Records
We organise the available information and record, review or reconcile transactions based on the agreed accounting scope.
03 — Review & Close
We review key balances, perform agreed reconciliations and closing procedures and identify matters requiring management clarification or adjustment.
We prepare the agreed management or financial reporting outputs and coordinate relevant information for tax, audit and other compliance requirements.
04 — Report & Coordinate
FINANCIAL REPORTING
What can regular accounting information help you understand?
Accounting should do more than satisfy a filing requirement. Current financial information helps management understand performance, financial position and issues that may require attention.
Understand revenue, cost of sales, operating expenses and overall profitability for the reporting period.
Comparative reporting can also help management identify significant movements and trends.
Profit & Loss
Balance Sheet
Monitor cash, receivables, inventory, fixed assets, liabilities, financing, shareholder balances and equity.
Balance-sheet review also helps identify unreconciled or unusual balances before year end.
Supporting Schedules
Maintain reconciliations and schedules supporting major financial-statement balances such as bank accounts, receivables, payables, fixed assets and related parties.
Good schedules improve both management review and year-end efficiency.
Management Reporting
Reporting can be tailored to the information management needs to monitor the business.
Depending on scope, this may include comparisons, account analysis or explanations of significant movements.
YEAR-END READINESS
How do good accounting records support tax and audit?
Tax computations and financial-statement audits depend heavily on the quality of the underlying accounting records.
Incomplete reconciliations, unsupported balances or unexplained transactions can create additional work at year end and delay the tax or audit process.
Maintaining current records throughout the year allows issues to be identified and addressed earlier.
Bank reconciliations
Bank balances should be reconciled to the accounting records and unusual items investigated.
Receivables & payables
Outstanding balances should be reviewed for accuracy, recoverability, completeness and appropriate cut-off.
Fixed assets
Asset additions, disposals and depreciation records should be updated and supported.
Inventory
Businesses holding inventory should maintain appropriate records and year-end quantity and valuation information.
Related parties
Transactions and balances with directors, shareholders and related companies should be separately identifiable.
Tax-sensitive items
Significant expenses, provisions, benefits, cross-border payments and unusual transactions should be identifiable for tax review.
Areas to prepare before year end
HOW LGR ASSISTS
Bookkeeping & accounting
Monthly management accounts
Quarterly management accounts
Year-end closing
Bank reconciliations
Balance-sheet schedules
Financial-statement preparation support
Tax information preparation
Audit schedules and coordination
Related-party balances
Cross-border accounting matters
Malaysia & Singapore compliance coordination
The final scope depends on the company's records, reporting framework, transaction complexity and agreed responsibilities.
One coordinated point of contact
Accounting connected to your wider compliance requirements
LGR approaches accounting as part of the company's wider corporate and compliance framework rather than as an isolated bookkeeping exercise.
This allows accounting issues to be considered together with tax, company-secretarial, audit and regulatory requirements.
Flexible accounting scope
Support can be structured based on the company's transaction volume, internal accounting capability and preferred reporting frequency.
Review & closing support
Where the company maintains its own accounts, LGR can provide an agreed review or closing scope rather than duplicating the client's internal accounting work.
Compliance coordination
Accounting information can be organised to support tax, corporate reporting and audit requirements.
Ongoing advisory
Significant accounting or reporting matters identified during the process can be discussed with management rather than simply carried forward.
Frequently asked questions about accounting and financial reporting
These are some of the questions businesses commonly consider when deciding how their accounting function should be managed.
2. Can LGR handle the full accounting function?
Yes, the scope can cover ongoing bookkeeping, reconciliations, closing and management reporting depending on the company's requirements and records.
The responsibilities and reporting frequency are agreed before work begins.
3. What if our internal team already prepares the accounts?
LGR can provide a review and closing scope instead of performing the bookkeeping again.
This may include reviewing key balances, reconciliations, accounting treatments and year-end schedules before the accounts proceed to tax or audit.
4. Can LGR help clean up incomplete or overdue accounts?
Yes, subject to reviewing the condition of the records and determining what information is available.
Backlog accounting normally requires an initial assessment because the work involved can vary significantly depending on the completeness of historical records.
5. Can LGR prepare accounts for audit?
LGR can help organise the accounting records, closing adjustments and supporting schedules needed for the audit process.
Where an independent statutory audit is required, the audit is performed separately by the appointed auditor.
6. Can LGR support both Malaysian and Singapore companies?
Yes. LGR supports accounting and related compliance matters for businesses in Malaysia and Singapore and can coordinate issues affecting companies operating across both jurisdictions.
COMMON QUESTIONS
1. How often should management accounts be prepared?
The appropriate frequency depends on how actively management uses the information and the volume and complexity of the business.
Many businesses use monthly or quarterly reporting, while less active entities may require less frequent reporting.
CONTINUE EXPLORING
Related services & practical guidance
Tax & Regulatory Support
Prepare schedules, supporting information and year-end records and coordinate accounting matters arising during the audit process.
Audit Support
Use reliable accounting information to support corporate tax, tax estimates, ECI, GST, SST and other relevant compliance requirements.
Corporate Advisory
Use financial and operational information to support restructuring, business planning, transactions and other corporate decisions.
Explore Corporate Advisory →
Getting Your Accounts Ready for Year End
A practical guide to reconciliations, closing schedules, supporting records and common issues businesses should address before tax and audit.
Read the Guide →
NEED BETTER FINANCIAL INFORMATION?
Looking for accounting support in Malaysia or Singapore?
Speak with LGR about your current accounting process, reporting requirements and the level of support needed to keep your financial information organised and ready for compliance.